05 Junio 2018, USD/JPY
Technical observation
USD/JPY is on an upward trend with three retracements at a support zone 108.72-108.50,if longed the pair last week on the last retracement to the zone, remain in the trade with your ideal target at 110.94,if you had not bought it yet i would advise you remain flat and wait for either a retracement to 108.72-108.50 then long the pair within it, or wait for a breakout above 110.94 followed by a retracement to it then long USD.I expect a bullish momentum towards 110.94 and even a breakout above it for a further rise in price towards 113.59.Short positions may only be recommended in case of a clear breach below108.50.
Technical levels
Resistance levels
R1.109.83
R2.110.14
R3.110.84
Pivot
109.43
Support levels
S1.109.12
S2.108.72
S3.108.02
Trade signal
Remain flat.
101% Double the volume